Lindsay (NYSE:LNN) Given New $113.00 Price Target at Stifel Nicolaus

Lindsay (NYSE:LNN) had its target price decreased by Stifel Nicolaus from $128.00 to $113.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.77% from the company’s current price.

Lindsay Stock Down 0.1%

LNN opened at $102.94 on Monday. Lindsay has a fifty-two week low of $102.87 and a fifty-two week high of $150.96. The firm has a market capitalization of $1.08 billion, a P/E ratio of 18.85 and a beta of 0.82. The company’s 50-day moving average is $126.73 and its 200 day moving average is $124.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.43.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, April 2nd. The industrial products company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The firm had revenue of $157.72 million during the quarter, compared to analysts’ expectations of $163.52 million. During the same quarter last year, the business posted $2.44 EPS. The company’s quarterly revenue was down 15.7% on a year-over-year basis. Research analysts expect that Lindsay will post 5.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. State Street Corp increased its position in shares of Lindsay by 5.6% during the 2nd quarter. State Street Corp now owns 473,772 shares of the industrial products company’s stock valued at $68,342,000 after purchasing an additional 25,251 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lindsay by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 345,596 shares of the industrial products company’s stock worth $40,736,000 after purchasing an additional 8,567 shares during the period. Amundi boosted its holdings in shares of Lindsay by 39.4% in the 4th quarter. Amundi now owns 269,817 shares of the industrial products company’s stock worth $31,843,000 after buying an additional 76,292 shares during the last quarter. Invesco Ltd. grew its position in Lindsay by 10.1% during the fourth quarter. Invesco Ltd. now owns 226,796 shares of the industrial products company’s stock valued at $26,732,000 after buying an additional 20,811 shares during the period. Finally, First Trust Advisors LP grew its position in Lindsay by 2.8% during the fourth quarter. First Trust Advisors LP now owns 197,123 shares of the industrial products company’s stock valued at $23,235,000 after buying an additional 5,303 shares during the period. Institutional investors own 89.94% of the company’s stock.

About Lindsay

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.